India's Pharma & MedTech Boom Signals Shift to Self-Reliant Healthcare Growth

The minister emphasized that the growing strength of India's pharmaceutical and medtech manufacturing ecosystem positions the country as a key global hub for affordable healthcare solutions.

Delivering a keynote address at a healthcare summit in New Delhi on Saturday, Singh explained that the national healthcare ecosystem is undergoing a major shift. According to the Minister, this transition focuses on global quality benchmarks and the integration of research with industry.

Singh highlighted that over the past decade, India witnessed a "remarkable transformation in healthcare, moving from a largely import-dependent system to one driven by indigenous capabilities."

The Minister recalled a time when critical medical devices, implants, and advanced drugs were largely sourced from abroad. This reliance made treatment expensive and inaccessible for many citizens.

"Today, India is developing its own antibiotics, vaccines, and advanced therapies, marking a decisive shift towards self-reliance," Singh said. He referred to the rapid progress made during the COVID-19 pandemic as a turning point where India supplied vaccines to several countries, reinforcing its role as a global healthcare partner.

The narrative of the sector now includes cutting-edge technologies such as gene therapy and innovations for diseases like sickle cell anemia. Singh noted that Indian institutions now contribute to globally recognized research.

He further highlighted that "homegrown" products match global benchmarks, with regulatory systems aligned to international standards. Through streamlined approval mechanisms, indigenous medical devices such as stents and ventilators are ensuring safety and affordability.

On the policy front, Singh pointed to the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, which has an outlay of Rs 5,000 crore. This initiative aims to transition India from low-cost manufacturing to high-value innovation.

He also mentioned that the MedTech Mitra platform is enabling innovators to navigate regulatory pathways more efficiently.

Currently, India holds approximately 1.5 per cent of the global medical device market. However, Singh stated that the government is working to significantly expand this share under the National Medical Device Policy 2023.

He stated that the collaboration between industry, academia, and government institutions has been institutionalized to ensure India becomes a preferred global destination for high-quality healthcare.

- ANI